[Lswtalk] Issues found while working on bylaws

[Erin Chesnutt]

All,
I got in touch with Rob who, among other things, told me that 501c(3)
organizations are required to file an annual information return. Failure
to do so for 3 consecutive years results in immediate revocation of
501(c)(3) status.

I did a little digging based on this and found that our organization would
be required to annually file Form 990-N which is an e-postcard, according
to the IRS's description. More info on that here :
http://www.irs.gov/Charities-&-Non-Profits/Annual-Electronic-Filing-Requirement-for-Small-Exempt-Organizations-Form-990-N-%28e-Postcard%29

I used the Exempt Organization Select Check tool from IRS to see if we are
still listed as a tax-exempt organization; I don't see our name on their
list.  I also don't see our name on the revoked list, but I think that
database only covers the past x years.

Has someone been filing this and I'm just looking in the wrong places?

If our status has, indeed, been revoked, then we seem to be looking at
filing another form and paying a user fee to get reinstated. I believe our
annual gross receipts from the past 4 years falls under $10,000. If so,
the user fee would be $400. If not, it looks like it would be $850.  More
on that here:
http://www.irs.gov/Charities-&-Non-Profits/Reinstatement-of-Tax-Exempt-Status-after-Automatic-Revocation.

It seems to me that if we want to move forward with granting a
scholarship, we need to get this in order sooner rather than later. It
feels hinky (nice word, yes?) to me, otherwise.



Thank you,

Erin N Chesnutt, MLIS
Director
Beauregard Parish Library

337-463-6217
echesnut at beau.org